GoldON Closes Flow-Through Financing and Arranges Additional Financing Proceeds to be used for drilling at Slate Falls and fieldwork at West Madsen
FOR IMMEDIATE RELEASE
GoldON Closes Flow-Through Financing and Arranges
Additional Financing
Proceeds to be used for drilling at Slate Falls and fieldwork at West Madsen
VICTORIA, BC, September 30, 2019 – GoldON Resources Ltd. (TSX-V: GLD) (“GoldON” or
the “Company”) is pleased to announce the closing of the previously announced non-brokered
private placement. The Company placed a total of 827,500 flow-t hrough units at a price of $0.65
per unit (“FT Units”) with quali fied investors to raise $537,87 5 in gross proceeds. Each FT Unit
consists of one flow-through sh are and one non-transferable sha re purchase warrant entitling the
holder to purchase one additional non-flow-through common share of the Company at a price of
$1.00 per share until September 27, 2021.
All securities are subject to a four-month hold period and may not be traded until January 28, 2020,
except as permitted by applicable securities legislation and the TSX Venture Exchange.
The Company paid finders’ fees in aggregate of $41,242.50 in cash and 35,850 in agent’s warrants
exercisable at $0.65 per share until September 27, 2021 in resp ect of the offering. The Company
will use the proceeds of the financing to fund the forthcoming drilling program at its 100% owned
Slate Falls gold-silver project; and Phase II fieldwork on the West Madsen gold project, an
option/JV with Great Bear Resources.
The Company would also like to announce it has arranged a non-b rokered private placement of
170,000 non-flow-through units at a price of $0.60 per unit (“N FT Units”) to a qualified investor
to raise gross proceeds of $102,000. Each NFT Unit will consist of one common share and one
non-transferable share purchase warrant entitling the holder to purchase one additional common
share of the Company at a price of $1.00 per share for a period of two years from the closing date.
Completion of this additional financing is subject to TSX Ventu re Exchange acceptance. The
Company may pay a finder’s fee of up to 6% cash and 6% agent’s warrants on subscription
proceeds. All securities issued pursuant to this offering will have a hold period expiring four
months after the closing date. The net proceeds of this financing will be used for general working
capital purposes.
About GoldON Resources Ltd.
GoldON is an exploration compan y focused on discovery-stage pro perties located in the prolific
gold mining belts of northwestern Ontario, Canada. Active proje cts include the West Madsen
GoldON Resources Ltd. | 108 - 800 Kelly Road, Suite 416, Victoria, BC V9B 6J9 | Tel.: (250) 474-7999
property in the Red Lake Gold Cam p and our flagship Slate Falls project in the Patricia Mining
Division where 18 Au-Ag mineralized zones have been identified over the 13-kilometre breadth of
the property. GoldON has 14,952,282 shares issued and is fully funded to complete its fall
exploration programs.
For additional information please visit our website and you can view our latest presentation by
clicking here.
ON BEHALF OF THE BOARD
Signed “Michael Romanik”
Michael Romanik, President
Direct line: (204) 724-0613
Email: [email protected]
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Neither TSX Venture Exchange nor its Regulation Services Provid er (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.